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Search Results 0 to 49 of about 54 (some duplicates have been removed)
. >> thank you very much. a pleasure. >> tom: president obama headed to the heartland today, listening to small business owners at a cleveland, ohio, forum. calling them the backbone of the american economy, the president asked for their ideas on how uncle sam can make it easier for small businesses to grow. the president said, "when our small businesses do well, america does well." >> you're the anchors of our main streets-- small businesses built by folks who live and work in the community and look out for one another that end up determining success or failure of cities and towns. >> tom: president obama also used today's event to announce a.o.l. co-founder steve case is joining the new jobs and competitiveness panel. case will lead the start-up america partnership promoting entrepreneurship. >> susie: citigroup shares tumbled almost 5% today, the most active stock on the big board. investors sold shares on word that the trustee for victims of bernie madoff's fraud has targeted citigroup. in a suit filed in december but unsealed this week, trustee irving picard claims citi ignored re
federal spending. topping the target list: president obama's health care reform. businesses are watching the battle carefully to see if their contracts will be eliminated. investors are looking for signs uncle sam's red ink will finally come under control. darren gersh has more on the spending drama. >> reporter: as you would expect, democrats and republicans mixed it up pretty good today. one of the hottest fights: whether to prohibit the obama administration from spending money to implement health care reform. new jersey's scott garrett called it a question of freedom. >> this is the first time in the history that the price of being an american is that you have to buy a particular product that some unknown un-faceless bureaucrat in washington ordains you have to buy. >> reporter: minority leader nancy pelosi fired back republicans are protecting insurance companies. >> it is again this congress saying to the american people we're here for special interests, we're not here for people's interests. >> reporter: republicans even took some swings at each other. tea party activi
for joining us. president obama said today he's confident about u.s. oil supplies, despite the upheavals in libya. susie, some lawmakers called on the president to tap into america's emergency oil supply to offset potential shortages. but president obama said he believes we'll be able "to ride out the situation." >> susie: tom, those comments late this afternoon reassured oil traders and then the price of oil dropped dramatically in the last hour of trading. april crude futures fell $0.82, closing at $97.28. they had been trading as high as $103 earlier in the day. >> tom: but despite that pullback, economists still worry high oil prices are a threat to the u.s. economy, forcing consumers to cut back on spending. erika miller reports. >> reporter: a penny or two might not seem like a lot, but even a small increase in a gallon of gas, week after week, gets noticed by drivers. >> now it probably takes me $55, $60 to fill up and before it was maybe $45, max, to fill up my car. but it goes up, what can you do? >> reporter: according to one estimate, just a one-cent increase in the price of a
>> tom: president obama releases his 2012 budget proposal, cutting the deficit by more than $1 trillion over a decade. but republicans say it's not enough. >> the only way we can make these investments in our future is if the government starts to live within its means. >> this tells small businessmen and women, this tells all entrepreneurs that the more we borrow and spend today, the higher their taxes will be. >> susie: when it comes to spending, we'll look at what's in and what's out. you're watching "nightly business report" for monday, february 14. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. $3.7 trillion. that's the size of this year's budget president obama sent to congress today. the president called his new spending plan one of "tough choices and sacrifices." republicans bashed it, tom, and so did anyone connected to a program that got downsized. >> t
to be at the beginning of the food chain when it comes to investing." >> tom: president obama says now is the time to invest in america. in a speech to the u.s. chamber of commerce, the president told business leaders the governmentt easier to take money off the sidelines to hire and invest. but in return, he says, businesses have a responsibility to their workers, not just shareholders. >> as we work with you to make america a better place to do business, i'm hoping that all of you are thinking what you can do for america. ask yourselves what you can do to hire more american workers, what you can do to support the american economy and invest in this nation. >> tom: responding to the president's remarks, house speaker republican john boehner said "president obama has retooled his rhetoric, but not his job-destroying policies." >> susie: here are the stories in tonight's n.b.r. newswheel: stocks closed higher on deals and acquisitions. we'll detail them in a moment. the dow rose 69 points, the nasdaq added nearly 15 and the s&p 500 up eight. as for volume, under 900 million shares on the big board
on these days in washington. speaking to the nation's governors, president obama said he'd offer states flexibility in implementing the new health care reform law. that law allows states to develop their own health insurance programs in 2017. the president says he now supports legislation to make that happen three years earlier, at the same time most of the requirements of the new law take effect. >> if your state can create a plan that covers as many people as affordably and comprehensively as the affordable care act does-- without increasing the deficit-- you can implement that plan. and we'll work with you to do it. >> reporter: but that flexibility may come with some fine print. states would still be required to implement all aspects of the new law, including provisions that everyone has health insurance. health policy analyst joe antos says it's not exactly the kind of flexibility the nation's governors are demanding. >> the language in the federal law has built a box around each of the states and so, as long as they stay within the box, they will have flexibility. but if they try
's budget president obama sent to congress today. the president called his new spending plan one of "tough choices and sacrifices." republicans bashed it, tom, and so did anyone connected to a program that got downsized. >> tom: susie, there are lots of cuts. the president's budget aims to slash $1 trillion over the next decade. three quarters of that money comes from spending cuts, and the balance is from tax increases or the elimination of existing tax breaks. >> susie: the new budget also proposes spending increases in areas like education, energy efficiency and high-speed rails. but as darren gersh reports, the president's plan makes a modest start on filling a budget hole that can only be described as huge. >> reporter: when you are in a hole, stop digging. that's rule number one. rule number two is figure out how deep you've dug yourself in. on the federal budget, the answer is very deep. over the next decade, the obama administration figures we're $9.4 trillion in the red. speaking at a school, the president defended spending on education and technology, but said his cuts will cut i
grip on power. president obama applauds the move. >> the united states will continue to be a friend and partner to egypt. we stand ready to provide whatever assistance is necessary, and asked for, to pursue a credible transition to a democracy. >> tom: stocks move higher, the dollar strengthens and oil prices fall, as the world reacts to egypt's changes. you're watching "nightly business report" for friday, february 11. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> susie: good evening, everyone. sites and sounds of freedom in egypt tonight. celebrations in the streets have replaced protests, as tens of thousands of people rejoice the resignation of president hosni mubarak. mubarak has left cairo ending his 30-year one-man rule of egypt. tom, the country's military in now in control. >> tom: susie, even though egypt still faces many challenges and there are questions about what's next
-backed securities. whatever changes the obama administration proposes and congress okays, mortgage experts predict they'll be phased in over many years to avoid disrupting the mortgage market. >> susie: here are the stories in tonight's nbr newswheel. the blue chip winning streak comes to an end, as the dow closes lower for the first time in nine sessions, off ten points. the nasdaq and s&p rose one point each. trading volume spiked to one billion shares on the big board, and 2.5 billion on the nasdaq. weekly jobless claims hit their lowest level in 2 1/2 years. first time claims fell to 383,000 last week. economists say the weekly rate needs to drop another 8,000 to see a significant drop in unemployment. and another vacancy at the federal reserve-- kevin warsh is resigning from the bank's board at the end of march. during the financial crisis, warsh played a key role, helping arrange the sale of bear stearns. still ahead, behind the mega- screens at imax. we talk with c.e.o. richard gelfond about the next twist in the entertainment giant's fast- moving story. >> tom: the egyptian people wanted m
sales through energy efficiency. >> susie: a strong defense of his budget today from president obama. he responded to criticism that he didn't make enough deep spending cuts. the president told reporters his plan, quote,"running up the credit card." le is confident republicans and democrats can agree on changes to he's confident republicans and democrats can agree on changes in social security and other programs, and he thinks investors and the markets want to shrink the deficit. >> if they see us chipping away at this problem in a serious way, even if we haven't solved 100% of it all in one fell swoop, then that will provide more confidence that washington can work. and more than anything, that's not just what the markets want; that's what the american people want. >> susie: but that's not how republican house budget committee chairman paul ryan sees it. ryan said the president hasn't shown the leadership needed to tame the deficit. house republicans want $61 billion worth of cuts in federal spending this year. >> tom, for all of the hoopla about that big merger we've been talking about
. a federal judge in florida has ruled the obama administration's health care overhaul is unconstitutional. he says congress can't force americans to buy medical insurance. the administration will appeal the decision. next stop for this case is likely the u.s. supreme court. consumers were spending again last month, giving the economy a big year-end boost. spending picked up by 0.7%, faster than expected. and incomes also grew in december, up by a more modest 0.4% from november. so when you spend more than you make, it's no surprise the savings rate edged lower, dipping in december to 5.3%. that's down a bit from the month before. >> tom: still ahead, how nascar may change its business to stop losing business. >> susie: our guest tonight says the worst is over for housing. he predicts more people will buy homes this year and construction of new homes will also pick up. mark zandi, chief economist of moody's analytics, joins us with details of his outlook for this year. hi, mark. >> hi, susie. >> susie: so that is a pretty optimistic forecast, especially considering that we've seen home prices
. and the dollar was strong rising against most major currencies. >> susie: from the white house, president obama said the people of egypt have spoken, their voices have been heard and egypt will never be the same. and he expressed optimism about the country's future. >> i'm also confident that the same ingenuity and entrepreneurial spirit that the young people of egypt have shown in recent days will be harnessed to create new opportunity, jobs and businesses that allow the extraordinary potential of this generation to take flight. i know that a democratic egypt can advance its role of responsible leadership not only in the region, but around the world. >> susie: also today, switzerland's government froze any assets in its banks that might belong to mubarak or his family. a spokesman for the swiss foreign ministry declined to say how much money is involved. >> tom: in washington today, the focus was on revamping mortgage giant's fannie mae and freddie mac. treasury secretary timothy geithner says it could take five to seven years to unwind the government's role in the mortgage market. geithner la
Search Results 0 to 49 of about 54 (some duplicates have been removed)

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